Oil stocks are one of the few stocks that people are still investing in with comfort. Many investors are taking their money out of stocks because of the instability in the economy. However, oil and other energy stocks are still going strong due to the dependency on oil. The United States is not the only country that is dependant on energy and oil.
Many other countries follow us because the U.S. is such a large part of the global economy. Countries in Europe are affected by the changes in the U.S. more than countries in other areas of the world — or even by the business decisions of our oil companies. Canada is one country with an economy that is closely related to the markets in the U.S.
Canadian oil sands stocks can be just as popular as the stocks in the United States because the same things affect them as the United States stocks. Canada has five blue chip oil stocks and the US has a number of them as well. Halliburton is a familiar name because they handle many defense contracts for our military; but they are also popular as an oil or energy stock.
The biggest reason these stocks will become such a great investment is because oil is a limited resource. The companies that drill for oil are expected to grow over the next ten years. It is anticipated that the limited oil reserves will lead to every available oil drill in the U.S. and around the world being up and running 24/7 in the next few years.
When trying to find cheap oil stocks, it is important to know something about the company because it will not be a competitive industry in the years to come. Rather the oil industry will be able to charge what the want because demand will only increase.